Worthington Steel Q3 revenue rises, partly driven by higher prices

Worthington Steel

25/03/2026 20:38

Overview

U.S. metals processor's fiscal Q3 revenue grew 12% yr/yr

Adjusted EPS for fiscal Q3 declined yr/yr

Outlook

Worthington Steel expects Kloeckner acquisition to close in H2 2026, pending regulatory approvals

Result Drivers

DIRECT VOLUME AND PRICING - Revenue growth was driven by a 4% increase in direct tons sold and a 9% rise in average direct selling prices

TOLL VOLUME DECLINE - Toll volumes fell 22%, due to the closure of the Cleveland-area WSCP facility

HIGHER SG&A EXPENSES - Operating income was pressured by a $22.9 mln increase in SG&A expenses, mainly from $15.4 mln in professional fees related to the proposed Kloeckner acquisition

Company press release: ID:nBw21t0dFa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$769.8 mln
$882.95 mln (2 Analysts)
Q3 Adjusted EPS
Miss
$0.27
$0.43 (2 Analysts)
Q3 EPS
$0.20
Q3 Net Income
$10.4 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the iron & steel peer group is "buy"

Wall Street's median 12-month price target for Worthington Steel Inc is $46.00, about 35.6% above its March 24 closing price of $33.93

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)